Archive for the ‘Gold’ Category

Fiat Money & The Federal Reserve System Explained…..

June 27, 2008

The United States Fiat Money & The Federal Reserve System
Darryl Schoon


Fiat money is an oxymoron. Traditionally, money has been both a storehouse of value and a medium of exchange. Fiat money exists by mimicking both; but when its ability to do so ends, fiat money exposed for what it is, reverts to what it is – government issued coupons with expiration dates printed in invisible ink.

Fiat money distorts the time value of money and in so doing destroys both money and the economies that use it. Real money like gold and silver has value over time, the greater its value and the longer it endures, the more likely it will be accepted as money.

Throughout history, gold and silver have demonstrated such utility and as a consequence both have been used as money for thousands of years. Unfortunately, throughout history governments have either debased, sic diluted, the amount of gold and silver in their coins or attempted to circumvent gold and silver entirely by mandating the use of paper money, sic fiat.

This is why:

Wealth, e.g. money, is power in a stored state. Unleashed, wealth is capable of doing its possessors’ bidding for better or worse. Wealth can exacerbate suffering or alleviate it and its power to do both – usually the former – has been coveted by governments since governments existed.

While productivity is doing more with less, fiat money allows governments to do more with nothing. Fiat currencies are a way for governments to spend what they don’t have; and while counterfeiting by individuals is a crime, passing government coupons off as money is legal because governments make the laws.

WHOSE LAWS – WHOSE BENEFIT

The issuance of fiat money by governments is, in truth, a white collar crime; and, as happens when white collar crimes are discovered, a highly visible paper trail leads directly back to the wrongdoers – in this case, the central banks.

Central banks are the mechanism by which society’s productivity is drained and indebted. Credit-based money issued by central banks turns into debt, debt which immediately begins to accrue compounding interest paid by productive members of society, e.g. workers, businessmen, farmers, savers and taxpayers. The interest, of course, is paid to bankers, non-productive members of society.

The motives for the co-conspirators in this crime are different but equally fulfilling. Governments get to spend what they don’t have and bankers get to collect interest on money that is not theirs – a win/win for the governments and bankers and a lose/lose for citizens and savers.

FIAT MONEY IS A CANCER ON THE ECONOMIC BODY

The longer a fiat money system exists, the greater the odds of economic collapse. Over time fiat credit money destroys economies because time exacerbates the systemic flaws of credit-based, sic capital, markets.

Capital is but the polite word for credit and that is why it is used. Capitalism sounds so much better (and more like money) than creditism. The word capital implies a “moneyness” that does not exist.

Credit turns into debt and over time in fiat money systems the growth of debt overwhelms the ability of producers and savers to service it. This is why debt markets, e.g. bond markets, are now so much larger than equity markets and why defaults involve increasingly larger and larger amounts. In the current fiat money system, time is running out.

COMPOUNDING DEBT + TIME = INCREASING DEFAULTS

Time also contributes to the destruction of the “value” of fiat money. The continual issuance of fiat credit money expands the amount of fiat “money” in circulation and thereby lowers the value of all previously issued currency.

This is why savers are penalized in fiat credit based economies. Savings, measured in terms of constantly declining dollars, are worth less over time. In the 95 years since the creation of credit based money by the Federal Reserve, the US dollar has lost 95 % of its purchasing power.

In fiat credit-based economies, savers are penalized and speculators are rewarded. And while this is welcomed by Wall Street, it is a death warrant for Main Street. In the US over the past twenty years, while Wall Street has expanded, Main Street has contracted.

The shift in America from a productive to a speculative economy is evidenced by the recent growth and dominance of financial “services” companies, e.g. Goldman Sachs, JP Morgan Chase, BofA, Morgan Stanley, Lehman Bros, Wachovia, etc. – their only “service”, of course, is a uniquely destructive and deadly form of “self-service”.

Over time, parasites will kill the body on which they live and this can be seen in the current decline of the United States. The decline of America was not caused by outside forces, e.g. communism, terrorism, illegal immigration, currency manipulation or product dumping as the US corporate controlled media would have Americans believe. The decline of America was an inside job.

The collapse of the US came from within. In 1913, the US replaced its savings based currency with fiat debt-based money issued by the Federal Reserve System, a consortium of European and US private banks whose intent was to profit from the growing productivity of America – and profit they did but to the detriment of America.

Since 1913, the Federal Reserve System has helped Wall Street bankers leach and indebt the productivity of American businesses and workers until America is now but a shadow of its former self. As the fortunes of Wall Streets rose, America’s fortunes declined.

THE FIAT MONEY 3-STEP: CREDIT (step forward) DEBT (stumble) DEFAULT (fall)

It’s been 95 years since the Federal Reserve System and its credit based money took over the US economy. Now, the United States, once the world’s only creditor is by far its largest debtor. A report from the Federal Reserve in 2006 stated the US is technically bankrupt with $65.9 trillion in irreconcilable obligations. Currently, the US can only pay its debts by issuing new debt. Default comes next.

THE US CENTENNIAL CELEBRATION OF FIAT MONEY

In 2013, in only five years the Federal Reserve System will celebrate its 100th birthday in America, the celebration of 100 years of bankers, financiers and corporate CEOs dismantling the productivity of America for personal gain.

It is my belief the next five years will determine America’s destiny. Once seen as a beacon, it is now distrusted and feared and rightly so. Those who bled this nation dry are still in control and the American people, America’s only hope, are not even aware of what has happened; and, if America is to be saved, there is not much time left in which to do so.

The odds aren’t good and Americans, heavily indebted and addicted to credit, are still hoping the Federal Reserve can save them, much as a patient hopes doctors will provide the right medicines, not knowing the doctors are getting kickbacks from the pharmaceutical companies and are skimming prescriptions for their own benefit.

In fiat based economies, time is the enemy and 95 years have passed since fiat money was introduced into the US. In America and elsewhere time is passing and the clock is ticking and recently it’s been sounding more and more like a time bomb.

It is hoped the election of a new president will save America. It won’t. Democracy, once the hope of the world, is now its greatest disappointment. Money – and fiat money at that – has subverted the democratic process everywhere; and today, in all nations, politicians from both conservative and liberal parties dance to fiat money’s funereal beat – in a mockery of democracy’s original intent.

DEMOCRACY – A CONTROLLED DANCE REQUIRING TWO PARTIES TO PERFORM

Nations, as well as people, can pass away in their sleep; and unless the American people wake up and wake up soon, their slumber will be the death rattle of what was recently the greatest nation on earth.

On July 4th 2008, the United States will celebrate its 232nd birthday. But during its last 95 years, fiat money courtesy of the Federal Reserve System has steadily eroded the economic foundations of America. Once the wealthiest nation in the world, it is no longer. The cause is clear. So is the cure.

Copyright © 2008 Darryl Schoon

“How To Survive The Crisis And Profit In the Process”

Contact Information
Darryl Schoon | Personal Website | Survive the Crisis

FoundingFather1776 humbly asks his curious readers to watch the award-winning documentary below…..it clearly illustrates that the “Federal Reserve System” is NOT Federal and there are NO “Reserves!”  Wake-up.  Learn.  Understand.  Behold one of the Keys to the Matrix…..

Quotable Quotes

April 18, 2008

“It is well enough that the people of the nation do not understand our banking and monetary system for, if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford

“Capital must protect itself in every possible manner by combination and legislation. Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers. This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world. By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished.” USA Banker’s Magazine, August 25 1924

“Allow me to control the issue and the nation’s money and I care not who makes its laws!” — Amshell Rothschild

Banks that hold the controlling stock in the Federal Reserve Corporation:
  Rothschild Banks of London and Berlin, Lazard Brothers Bank of Paris, Israel Moses Sieff Banks of Italy
Warburg Bank of Hamburg and Amsterdam, Lehman Brothers Bank of New York, Kuhn Loeb Bank of New York
Chase Manhattan Bank of New York, Goldman Sachs Bank of New York.

“Money is the most important subject intellectual persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and its defects remedied very soon.” –Robert H. Hemphill, former credit manager, Federal Reserve Bank of Atlanta

“You have to choose [as a voter] between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold.” George Bernard Shaw

What luck for rulers that men do not thinkAdolf Hitler

“Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society (destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose.”John Marnard Keynes, The Economic Consequences of the Peace.

“Military men are just dumb stupid animals to be used as pawns in foreign policy.”
Henry Kissinger, quoted in “Kiss the Boys Goodbye: How the United States Betrayed Its Own POW’s in Vietnam”

“When fascism comes to America it will be wrapped in the flag and carrying the cross.” – Sinclair Lewis

The consolidation of the States into one vast empire, sure to be aggressive abroad and despotic at home, will be the certain precursor of ruin which has overwhelmed all that preceded it. - General Robert E. Lee

Hyperinflation is making Gold Soar!

April 9, 2008

Professor

By Jason Hommel

(And silver’s going up even more!)

Life is unfair. We are all being tested, all the time, on things that “are not on the curriculum” that nobody may have taught us. How unfair! Often we are tested on things that we have no way of knowing! Scary, but true. But the sooner we realize those facts of life, the better off we will be!

The results of the tests in life are not merely whether you get an A, B or C in school. In life, the tests will have far more significant consequences, and may determine if you become wealthy enough to effectively help others, or go bankrupt and have to start all over again, or worse.

Today, everyone in the world who has any money or wealth is being tested on their own knowledge of the nature and value of paper money, and on how much paper money there might be; and on the nature and value of silver and gold as money, and on how much silver and gold there might be.

We are being tested on things that nobody teaches, and on things that are, frankly, impossible to know, although estimates exist, and I do try to share some of the professionally compiled estimates on those subjects.

Here’s a bit of the curriculum on money:

Archive: http://silverstockreport.com/ssrarchive.htm
The Money Chart: The Fundamentals of Gold & Silver Feb 25, 2006
Speech given at the Silver Summit September 26, 2006
Why Silver Will Soar May 23, 2007

Today, I’d like to talk a little bit about the facts of hyperinflation. Everyone will be tested on this in this market, so pay attention, because these facts are not widely taught. If you understand this, you can get a serious advantage over other people.

Back in 2003, I wrote: Inflation & Deflation During Hyperinflation Nov 6, 2003
Back when I was selling individual essays, that was a best seller.

I identified a monumental sea change situation that changed in 2001. In 2001, an amazing thing happened. Hyperinflation started in the U.S., and has continued ever since, and gotten worse.

In 2001, the purchasing power of money in the banks (the gold value) peaked, and then started going down faster than the rate of increase of new dollars. Whereas before 2001, both the number and the value of dollars increased at the same time.

June 1998: M3 5,711 billion / gold price $296/oz. = 19.3 (billion oz. gold value)
June 1999: M3 6,221 billion / gold price $260/oz. = 23.9 (billion oz. gold value)
June 2000: M3 6,809 billion / gold price $288/oz. = 23.6 (billion oz. gold value)
June 2001: M3 7,628 billion / gold price $270/oz. = 28.2 (billion oz. gold value)
June 2002: M3 8,178 billion / gold price $318/oz. = 25.7 (billion oz. gold value)
June 2003: M3 8,761 billion / gold price $345/oz. = 25.4 (billion oz. gold value)
Sept 2003: M3 8,909 billion / gold price $390/oz. = 22.8 (billion oz. gold value)

Money value peaked in 2001, with M3 being worth 28.2 billion ounces of gold. That’s a fact that “paper money value” peaked in terms of the amount of gold it could theoretically buy.

But hey, you know what? Experts claim there are only about 5 billion ounces of gold ever mined in the history of humanity! This shows that there are probably a few too many fraudulent dollars out there.

Today, the value of M3 is still bloated and terribly over valued, and M3 is still increasing in number, while shrinking in value.

Nowandfutures shows that M3 is $14 trillion. What a vast increase over $7.6 trillion in 2001! Nearly double in 7 years! http://www.nowandfutures.com/key_stats.html

The gold price today is $912/oz.

So, for April, 2008: M3 14,000 billion / gold price $912/oz. = 15.3 (billion oz. gold value)!

That’s 15.3 billion oz. of gold, in theory, that all U.S. money in the banks can buy.

U.S. dollars (Fed notes) are very over valued still, and going down in value, still!

And hyperinflation continues, as inflation of the money supply is now 19%!

INFLATION IS 19.5%! (Inflation of the money supply!)

What’s inflation?

The U.S. is diluting the value of the dollar by making too many.

It’s like adding an extra can of water to the juice. It’s like adding a bunch of cold water to the hot bath.

It’s like trying to make Jello with too much water.

The inflation rate is the amount of extra dollars that they are adding each year, that are destroying the value of the dollar.

But since 2001, the value of the dollar is being destroyed FASTER than the inflation rate–that’s the hyperinflation that started in 2001.

You are being tested on your knowledge of that, right now.

To pass the test, you need to own physical silver or physical gold.

If you fail the test, you are happy to own paper money, paper bonds, or paper silver and gold certificates.

The Consumer Price Index, (CPI) inflation rate is said to be 4%. http://www.bls.gov/cpi/

The CPI is under counting, as it uses hedonic adjustments, and excludes “unimportant” things like gold, silver, food, housing, and energy (what else is there?!), and the true inflation rate must be higher. Experts seem to suggest that the true consumer inflation rate is between 8-12%, but a housewife who pays attention to grocery prices might know more. This is another unknowable part we all get tested on.

Now, the difference between what bonds pay you (2-4%?), and what inflation takes from you (12-19-22%?), is the cost of owning bonds, and while I don’t know exact numbers, as nobody can, what I do know, and I guarantee you, is that this is a negative number. What the number is, who knows. Let’s say it’s negative 15% or so. That’s the price you pay, the money you lose each year, for owning bonds, now days, and this has been the penalty since about 2001.

Don’t pay attention to people who claim there is deflation, or worry about deflation. There is inflation, a lot of inflation, so much inflation that we have hyperinflation. The thing that is deflating is the value of money, because there is hyperinflation.

Why is there hyperinflation? Because there is “never enough money” to avoid bankruptcy of the major institutions, because they are printing money for the war in Iraq, and for too much government. The money printers are fearing deflation because other people might be taking money out of the banks (which is said to be deflationary) to hold it in the mattress, spend it overseas, or use it to buy silver and gold. But that’s not deflation, it’s the result of hyperinflation.

Hyperinflation makes people take their money out of the banks, and spend it as fast as possible.

The point is that there is no monetary incentive for people to hold cash or bonds right now; as they are losing money because of the high money creation rate, and the gold rate increases.

Another main point that follows is that gold will continue to go up as long as current conditions exist, as they have, since 2001. Since 2001, gold has been going up by about 22% per year. That’s from $250 to a high of $1000, over 7 years.

Now then. Where are the economic incentives today when owning gold pays 22% per year, and owning bonds costs 15% per year?

The incentive is to sell bonds and buy gold.

The world economic conditions are paying people to move into gold.

There is no reason to think that anything will change, until it does.

The required change is for bonds to pay more than the annual gold value increases.

Until bonds pay more than owning gold, then gold will continue to rise.

How far will this process be likely to go? How long? Until when?

Until bonds pay more than owning gold, then gold will continue to rise.

That’s not a misprint; it’s a repeat of the main point.

Here’s another clue:

The size of the U.S. Bond market might be about $25 trillion, and the world bond market might be $50 trillion.

The size of the world gold market might be about $5 trillion.

Right now, an extremely tiny portion of the $50 trillion market is trying to buy into the $5 trillion market.

I think about $0.115 trillion is going into gold annually right about now. (4000 tonnes x $900/oz.)

That’s about 1/5th of 1% of the money is going into gold. And yet 91% of the people are now concerned about inflation. Selling gold to people should be the easiest job in the world right now, the easiest pitch ever. Everyone should want it, yet virtually nobody is buying it, the demand has barely started, and the demand for silver is like 100 times less.

This might be another clue as to how long the gold market will go, but is no guarantee:

Jan. 1980: M3 1,822 billion / gold price $850/oz. = 2.1 (billion oz. gold value)

Gold will go up at least until the gold value of paper money is 2 billion gold ounces, or significantly less, as that was the condition in 1980, and it should probably continue further than that. After all, the U.S. government does not have 2 billion ounces of gold; it only has 0.261 billion ounces of gold.

Be prepared for gold prices to continue to rise about 22% per year or more, at least until bond interest payments rise to over 22% per year, or whatever the gold price increases might be at the time.

Now, I want to address people who will inevitably ask me, “What will happen if there is deflation”. I will respond, “There isn’t any deflation”. They will respond, “But so-and-so thinks there is deflation.” I will respond, “Well, so-and-so is wrong.” They will respond, “But what if things change, and we actually have deflation?” OK, there’s a real question. I will respond, first of all, there is no deflation, the money supply is soaring. Before the money supply can actually shrink, it has to slow down growing, and we’d see that first. Then, the money supply would have to be stable. Then, the money supply would have to actually stop. Bankruptcies would vastly increase. Bankruptices are one of the only things that can actually cause deflation, as that destroys credit and money in the banks when banks go belly up. When banks start going bankrupt, how confident will people be to let their money sit in bonds in the banks? Not very. They will start to buy gold even faster than they do today, since gold is not anyone’s liability. If that happens, gold will go up until bonds start paying more than gold is going up each year, AND until banks stop going bankrupt. So, if there is deflation, gold will go up more, and for longer, until people trust banks again, which could be a very long time.

This is why the Fed is doomed. Printing more will not work. Printing less will not work. Printing nothing will not work. All the inflation of all the years from 1913 until now is beginning to crash down on our heads, and it will keep crashing until it stops. And when will that be? Until bonds start paying more each year than gold is going up each year.

As always, silver trumps gold, in my opinion, since so much silver has been consumed in jewelry and flatware and industry. If the silver to gold ratio returns to the historic 15:1, we will make 3 times as much money in silver, than in gold. But due to the rarity of silver, because it has been used up, because it is hard to find, and because only about 8 times as much silver is mined than gold each year, silver will probably exceed the value of the historic 15:1.

To get an A+ on one of the tests of life today is real simple. You don’t need to know any of what I just said, but it might help. All you need to do is buy silver.

A Brief Guide to Buying Silver:
What kind of silver, and where to get it.
http://find-your-local-coin-shop.com/

Sincerely,

Jason Hommel

Gold vs the Dollar

April 7, 2008

Kids Go to Gold Camp

April 4, 2008

Great Mogambo The Mogambo Guru

 

The wife and kids are all in an hysterical uproar because I keep buying gold and silver and not wasting it on them and their incessant demands for food, medical care and things that prove “a father’s love”, like any of that crap does me or our financial status any good at all.

But they are always whining about how things are costing more and more, and I tell them that if I am not going to buy these things for them, why in the hell do they care what they cost? And that, for some unexplained reason, sets them off again, whining, whining, whining.

But I guess it was to be expected, as Agora Financial’s 5-Minute Forecast reported on a CNN/Opinion Research poll “showing that ‘the rising rate of inflation’ is Americans’ No 1 economic concern”. In fact, it is almost everyone’s No 1 concern, as “Ninety-one percent of all folks polled by CNN listed the dollar’s devaluation as their primary fiscal worry. Worry over the value of the bucks in their wallets beat our job growth, the stock market or housing concerns in the poll.”

And now that gold and silver were caught in the downdraft last week, the kids are even MORE unreasonable about my latest Family Financial Re-Structuring Plan (FFRSP), which involves no work or investment on their part, and it only involves them giving up one lousy meal per day so that I could use that freed-up money to buy more gold and silver! It’s a great idea!

After a while, I got tired of explaining, “Shut up! Shut up! Shut up!”, so I looked around for additional evidence that I am correct and they are just a bunch of ignorant, whining, Earthling millstones around our familial necks that are dragging my plans and dreams into the ol’ crapper and giving it a flush.

Then I see Bob Moriarty at 321Gold, and I say, “Listen to this and learn!” Mr Moriarty said, “After a short and brutal correction, gold will resume its climb. Gold and silver have not peaked. They are money and when all currencies fail, they will be the last man standing.”

That’s it! That’s it exactly! That is why gold and silver always prevail; there is nothing else in which to invest that has all the wonderful properties it has!

I was hoping that he would continue on in this vein until I caught a glimpse of sudden comprehension from one of the kids, but he said, “Anyone mumbling about subprime mortgages or even prime mortgages just doesn’t get it. Those are a tiny part of the issue. The issue is $516 trillion worth of Monopoly money floating around the giant crap game we call the world’s financial system.”

Immediately, I knew that I could turn this to advantage, and I immediately jumped up and interrupted “How in the hell can the global glut of derivatives be 37 times as big as total, global GDP? Hell, just a yield of 0.1%, a tenth of a percent, would mean that $516 billion would be needed just to annually service the debt of that $516 trillion! Hahahaha! We’re freaking doomed!”

As usual, nobody was impressed with my economic analysis nor my nifty summation there at the end, but I thought I saw a glimmer of understanding in my daughter’s eyes when Mr Moriarty explained, “I don’t care how many $200 billion Band-Aids Helo Ben patches on the system, it isn’t going to work. The entire banking system is underwater. The system is going to fail totally and globally.”

Encouraged, I leapt up and said, “And this is exactly what Ludwig von Mises of the Austrian School of economics said would happen if you don’t voluntarily abandon profligate creation of money and credit; complete collapse of the monetary system!”

I quickly looked over at my daughter, hoping that she would leap to her feet and exclaim, “I get it now! Oh, daddy! I was so, so wrong about you, and now I see that you are the smartest, handsomest, most wonderful economist and father in the whole world! I love you, daddy!”

Alas, her eyes were again as blank as usual. So, to hell with them all, because it is not just Bob and me that are bullish on gold, as the Economist magazine reported that “Hussein Allidina, an analyst at Morgan Stanley, reckons ETFs own more than 915 tonnes of gold – more than the European Central Bank.”

Not only that, but much more buying is to be anticipated because, “Funds are steadily being launched in new countries, such as Dubai. This boost to demand is not being matched by a rise in supply. Gold production peaked in 2001, according to Black Rock, and is expected to decline in each of the next three years.”

So let me get this right; demand for gold has been going up dramatically and, seemingly, is going to rise a lot more thanks to the simplicity of Exchange-Traded Funds, while the supply of new gold is declining, while the central bank is now reduced not only to creating a bazillion new dollars in money and credit, but also to buying up assets of such poor quality that literally nobody wanted to buy them, and while, astonishingly, letting private companies actually borrow from the Federal Reserve by utilizing a never-before-used law that has been on the books since 1932!!!!

Careful Mogambo Scholars (CMS) will instantly note the use of the rare quadruple exclamation point, which denotes such emphasis that it commands your complete attention and total obedience. And having commanded attention, it tells you that The End Is Nigh (TEIN) if they are that desperate, and commands that you start moving supplies into your bunker in the backyard (if available), or huddled up like the whimpering little coward that I am in the closet under the stairs, angry, with bitter tears of disappointment and fear dripping down my face, down to my chin, whereupon to drop (“plop!”) onto my lap so it looks like I peed in my pants, and so now I am angry about that, too!

I feel a little better that Junior Mogambo Ranger (JMR) Ron R sent an excerpt from Howard J Ruff’s e-newsletter; “So bet on rising gold and silver; the fundamentals will not change. In fact, it’s beyond repair because the only thing that will end [inflation] will be to stop pouring money into the economy, which means taking a stand on Social Security, Medicare and Medicaid. If you think government will do that, I’ll cover all bets.”

And Stephen Leeb, of The Complete Investor newsletter, says the same thing; “The factors that have pushed gold higher since the turn of the century did not evaporate last week.”

So they all agree with me that gold is headed higher, although if you ask them, they will say, “Who? What did he say? I never heard of him or his ideas, which he stole from me, the Thieving Little Bastard (TLB)!”

Regardless of what they or their smarmy lawyers can prove, the fact remains; gold and silver are going up. And by a lot.
Richard Daughty, the angriest guy in economics
The Mogambo Guru

email: RichardSmithGroup@verizon.net

MogamboRichard Daughty is general partner and C.O.O. for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise the better to heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron’s, The Daily Reckoning and other fine publications.

 


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